ANOTHER Large Retailer Set To Close All Stores In Australia
We're sad to report that Payless Shoes is expected to close all of its 132 stores in February after the administrators were unable to find a buyer for the retailer.
The discount shoe chain entered voluntary administration in November, for the second time in three years.
Administrator Ferrier Hodgson says about 730 staff will be affected and that employee entitlements are expected to be paid in full, although some jobs could still be saved if the business can be broken up and sold piecemeal.
"While we received a number of expressions of interest from various parties, there were no acceptable offers for the business as a whole," administrator Jim Sarantinos said in a statement.
Looks like Aussie consumers will have to shop elsewhere for their cheap footwear!
payless shoes to close in february. maybe we should have been paying more..— ethan james (@ethos03) December 14, 2016
BREAKING NEWS..... PAYLESS SHOES TO CLOSE ALL STORES.... 730 JOBS LOST.... NO ACCEPTABLE OFFER MADE TO BUY RETAILER FROM ADMINISTRATORS...— Eli Greenblat (@EliGreenblat) December 14, 2016
Source: AAP/Staff Writers